INSTALLMENT REFUND Clause Samples
INSTALLMENT REFUND. We will make payments for a period certain and after that during the lifetime of the annuitant. No payments are due after the death of the annuitant or, if later, the end of the period certain. The number of period certain payments is equal to the amount applied under this Installment Refund Option divided by the amount of the first annuity payment; provided, however, that the amount of the final period certain payment shall be multiplied by that part of the preceding quotient which is not an integer.
INSTALLMENT REFUND. We will make payments for a period certain and after that during the lifetime of the Annuitant. No payments are due after the death of the Annuitant or, if later, the end of the period certain. The number of period certain payments is equal to the amount applied under this installment refund option divided by the amount of the first annuity payment; provided, however, that the amount of the final period certain payment shall be multiplied by that part of the preceding quotient which is not an integer. -------------------------------------------------------------------------------- THE OHIO NATIONAL LIFE INSURANCE COMPANY PAGE 13 JOINT AND SURVIVOR LIFE ANNUITY OPTION 2
INSTALLMENT REFUND. We will make payments for a period certain and after that during the lifetime of the Annuitant. No payments are due after the death of the Annuitant or, if later, the end of the period certain. The number of period certain payments is equal to the amount applied under this installment refund option divided by the amount of the first annuity payment; provided, however, that the amount of the final period certain payment shall be multiplied by that part of the preceding quotient which is not an integer. -------------------------------------------------------------------------------- FORM NS-02-VA-07.1 NATIONAL SECURITY LIFE AND ANNUITY COMPANY PAGE 20
INSTALLMENT REFUND. We will make payments for a period certain and after that during the lifetime of the annuitant. No payments are due after the death of the annuitant or, if later, the end of the period certain. The number of period certain payments is equal to the amount applied under this Installment Refund Option divided by the amount of the first annuity payment; provided, however, that the amount of the final period certain payment shall be multiplied by that part of the preceding quotient which is not an integer. J▇▇▇ ▇▇▇ 012345678 UC 8135-1 -15- Option 2: Joint and Survivor Life Annuity